No Apache merger – but 37 North Sea job cuts confirmed
ByErikka Askeland
Two energy giants have distanced themselves from rumours of another $17billion mega-merger as the low oil price environment creates a febrile environment for takeover speculation.
It emerged instead that Apache Corporation met with staff yesterday to announce further job cuts, with up to 37 roles set to be cut at the Houston oil giant’s North Sea operations.
A spokeswoman for Apache said in a statement that its North Sea business “will commence formal consultation with employees on proposed redundancies within its North Sea offshore operations”.
